Health insurer BridgeSpan plans to exit the Obamacare exchanges in Idaho next year due to losses and uncertainty about the law's future, according to a HealthInsurance.org report.
The insurer will sell off-exchange plans next year and noted that the switch was not only a cost-control measure, but "is also a result of uncertainty and instability for the exchanges," according to reporting by Louise Norris, a contributor to the site. Last year, five insurers participated in the exchange, which is run by the state.
Customers who have a BridgeSpan plan on the exchange will have to change health insurance plans for next year, which could result in changes to doctors and hospitals that are covered. They also have the option of having a BridgeSpan plan if they buy it off exchange, but will not receive tax subsidies that significantly lower the cost of premiums.
Insurers in some states have been fleeing the exchanges for next year because they worry about whether the Trump administration will enforce the individual mandate, which requires Americans to buy insurance or pay a tax, and about whether they will receive billions of dollars in federal funding that help them offer lower prices to customers for out-of-pocket medical expences. Similar exoduses occurred last year as insurers complained about massive losses resulting from an unbalanced risk pool.
Insurers who decide to participate in Idaho have until June 2 to request changes to the premiums they charge customers.